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Jakarta Post

Auto industry poised to recover after sales hit brakes in 2019

  • Made Anthony Iswara

    The Jakarta Post

Jakarta   /   Tue, January 21 2020   /  01:45 am

Stakeholders have expressed high hopes that the automotive industry will recuperate this year as economic turbulence is expected to ease throughout 2020.With such an outlook, the chairman of the Association of Indonesian Automotive Manufacturers (Gaikindo), Jongkie D. Sugiarto, said that the association had increased its sales target by 5 percent to about 1.05 million cars in 2020 from 1 million cars in 2019. The industry sold about 1.03 million units between January and December 2019, down by about 10.8 percent compared to the 1.15 million units sold in 2018, according to data provided by the association. This indicates that the industry had met its target of 1 million sales by the end of 2019.“With economic growth of 5.1 to 5.2 percent, we are confident that we will achieve our 1.05-million target,” he added, quoting recent government estimates. “If the government is optimistic, ...